Versar revenue up 22 percent

Springfield-based engineering contractor Versar Inc. saw higher quarterly revenue and earnings as it continues to offset the loss of construction work in Iraq with new contracting work at U.S. military bases.

Versar had fiscal 2015 second quarter revenue of $34.2 million, compared to $28 million in the same quarter a year ago. Net income was $277,000, or 3 cents per share, compared to $100,000, or 1 cent per share a year earlier.

Versar ended the quarter with a funded backlog of $245 million.

Among…

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2 weeks into Larry Hogan's term, bipartisanship wanes

Wednesday’s State of the State address might have ended Gov. Larry Hogan’s honeymoon period in Annapolis, as Democrats recoiled at what they called a partisan tone and interest groups dug in against proposed changes.

“I thought it was hyper-partisan and certainly not the sort of serious turn toward governing that most of us expected,” said Del. C. William Frick, a Democrat from Montgomery County who is the House of Delegates parliamentarian. “From the first words of the speech it was a campaign…

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Leading permits: Bonchon to Capitol Riverfront and a rare used-car-sales-to-church conversion

Straight to the permits this Thursday.

1015 Half St. SE: Tenant layout for a 5,243-square-foot restaurant, Bonchon, with 138 seats and a maximum occupancy of 169. Work on the Korean fried chicken joint will include the construction of a new kitchen, floor layout, bar and accessory office space. CBS Radio and the National Labor Relations Board will be moving into the same building. Bonchon currently operates eight locations in the immediate D.C. suburbs, but this will be its first in the District…

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Playing the waiting game on mortgage rates? You’re still winning

Long-term borrowing costs fell this week, with the average rate on a 30-year fixed-rate mortgage heading toward historical lows.

Freddie Mac (OTC: FMCC) says the average rate on a 30-year fix was 3.59 percent in the week ending Feb. 5, down from 3.66 percent last week. A year ago, 30-year rates averaged 4.32 percent.

A 15-year fix averaged 2.92 percent this week, down from 2.98 percent. A one-year adjustable-rate averaged 2.39 percent, up form 2.38 percent.

“Mortgage rates fell this week following…

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MDHA aims to redevelop land by Pinewood Social, Entrepreneur Center

A government agency is preparing to spark development on as many as 9 acres of land by the Trolley Barns, on the southern outskirts of downtown Nashville.

Tenants in the Trolley Barns include the popular restaurant and entertainment spot Pinewood Social, as well as the Nashville Entrepreneur Center.

MDHA, the Metropolitan Development and Housing Agency, is beginning to draft a request for proposals for neighboring land that it owns by the Trolley Barns.

The targeted land could include either or…

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